LANSING, Mich. (AP) — Michigan legislators have passed a $1.5 billion bill with state incentives to land major business expansions, including an electric vehicle battery factory that General Motors wants to build in the Lansing area.
Once Gov. Gretchen Whitmer signs the funding and related bills, the money will go to the new Strategic Outreach and Attraction Reserve Fund.
Legislative budget committees would have to approve transfers from the account to site readiness and “critical industry” funds before Michigan could distribute grants, loans and other assistance to companies.
Lawmakers approved the bills late Tuesday before adjourning for the year.